Archive for November, 2008
Tuesday, November 4th, 2008
Prices of Treasury coupon securities surged today as the massive buying in spread product markets percolated into the treasury market. The yield on the 2 year note dropped 6 basis points to 1.37 percent. The yield on the5 year note dropped 16 basis points to 2.54 percent. The yield on ...
Posted in Uncategorized | Comments Off on Treasury and Corporate Close
Tuesday, November 4th, 2008
Agency spreads participated in the spread product orgy as spreads moved sharply narrower. Two year spreads are tighter by about 15 basis points and 5 year spreads have narrowed about 12 basis points. Ten year spreads have edged lower by about 8 basis points.All of the Agency benchmarks have rallied ...
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Tuesday, November 4th, 2008
Mortgages tightened significantly today to swaps. There was robust demand from servicers, money managers and bank portfolios. The impetus was the improvement in financing which made mortgages more attractive because of the increase in carry return.There was also buying of 5 1/2s as they traded near 98-0 . That has ...
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Tuesday, November 4th, 2008
Mortgage rolls are showing improvement since my last posting. I have received several emails to that effect and mortgages have improved about 1/4 point since I wrote a few minutes ago.
The Treasury market is pretty quiet considering the rally in stocks and the Niagra Falls of supply which will soon ...
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Tuesday, November 4th, 2008
Swaps are tighter by 4 1/2 basis points in the 2 year sector with spreads at 119 basis points. Five year spreads have narrowed 1 3/4 basis points to 108 3/4 basis points. Ten year spreads are tighter by 3/4 basis point at 51 3/4 basis points. Thirty year spreads ...
Posted in Uncategorized | Comments Off on Swaps and MBS
Tuesday, November 4th, 2008
IG 11 is opening 5 better at 197/198 1/2.
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Tuesday, November 4th, 2008
Via the blog Clusterstock a story about a very interesting hire at the New York Fed.
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Tuesday, November 4th, 2008
Libor US$ Fixing
11/04 11/03 Change
OVERNIGHT .37500 .38750 -.01250
1 WEEK .98125 1.04375 -.06250
2 WEEKS 1.32500 1.45000 -.12500
1 MONTH ...
Posted in Uncategorized | Comments Off on Libor Opening
Tuesday, November 4th, 2008
Prices of Treasury coupon securities are registering, on balance, small losses in overseas trading. The yield on the benchmark 2 year note has climbed 4 basis points to 1.48 percent. The yield on the 5 year note has edged higher by a basis point to 2.71 percent. The yield on ...
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Monday, November 3rd, 2008
Prices of Treasury coupon securities registered mixed changes today in a lackluster session dominated by an air of waiting and anticipation. Participants await the outcome of the election tomorrow and the refunding announcement on Wednesday. Later in the week, participants will focus on the labor data. Market News International reports ...
Posted in Uncategorized | Comments Off on Closing Thoughts November 3 2008